The City of Kenai’s personal use fishery fund balance is predicted to grow by $93, 680 following this summer’s dipnet season.
The original budget adopted by the city council predicted an $86, 540 growth in funds according to City Manager Rick Koch.
Koch: “Given where we ended with our fund balance last year we ended up with a fund balance of $161,000, that’s still projected at this point but that’s the direction that we wanted to grow because we have some large capital expenditures coming up over the next few years and it’s very doubtful that we’ll receive any state money.”
One of the top projects the city would like to investigate would be purchasing property near the north beach of the mouth of the Kenai River at the end of South Spruce Street to create more parking and camping.
In the final 2015 dipnet report, administration suggests continuing to grow the P.U. fishery fund in order “to safeguard the City’s General Fund in the event that the Fishery is closed by emergency order and the City is unable to recoup expenditures.”
Some of the capital Revenues for the 2015 season are projected at $556,593, and projected expenses are $462,913 for revenues over expenditures of $93,680.
The city’s final report will be presented in a dipnet work session in the Kenai council chambers at 6 pm, Tuesday, October 27.
